Immunic(IMUX) - 2024 Q2 - Quarterly Report

PART I - FINANCIAL INFORMATION This section presents Immunic, Inc.'s unaudited condensed consolidated financial statements, management's discussion and analysis, and disclosures on market risk and controls Item 1. Condensed Consolidated Financial Statements (Unaudited) This section provides Immunic, Inc.'s unaudited condensed consolidated financial statements and comprehensive notes for the periods ended June 30, 2024 and 2023 Condensed Consolidated Balance Sheets This statement provides a snapshot of Immunic, Inc.'s financial position, detailing assets, liabilities, and equity as of June 30, 2024, and December 31, 2023 | Assets/Liabilities & Equity (in thousands) | June 30, 2024 (Unaudited) | December 31, 2023 | | :--------------------------------------- | :------------------------ | :------------------ | | Assets | | | | Cash and cash equivalents | $79,698 | $46,674 | | Total current assets | $84,978 | $52,534 | | Total assets | $86,491 | $54,299 | | Liabilities | | | | Total current liabilities | $22,677 | $24,729 | | Total liabilities | $22,918 | $25,368 | | Stockholders' Equity | | | | Additional paid-in capital | $521,639 | $436,060 | | Accumulated deficit | $(461,856) | $(410,892) | | Total stockholders' equity | $63,573 | $28,931 | - Total assets increased by approximately $32.2 million from December 31, 2023, to June 30, 2024, primarily driven by a significant increase in cash and cash equivalents[4] - Total stockholders' equity more than doubled, increasing by $34.6 million, largely due to an increase in additional paid-in capital[4] Condensed Consolidated Statements of Operations This statement details Immunic, Inc.'s revenues, expenses, and net loss for the three and six months ended June 30, 2024, and 2023 | (In thousands) | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Research and development | $18,323 | $21,172 | $37,059 | $44,135 | | General and administrative | $4,491 | $3,849 | $9,636 | $8,137 | | Total operating expenses | $22,814 | $25,021 | $46,695 | $52,272 | | Loss from operations | $(22,814) | $(25,021) | $(46,695) | $(52,272) | | Interest income | $998 | $968 | $2,185 | $1,768 | | Change in fair value of tranche rights | — | — | $(4,796) | — | | Net loss | $(21,380) | $(23,999) | $(50,964) | $(49,271) | | Net loss per share, basic and diluted | $(0.21) | $(0.54) | $(0.51) | $(1.12) | - Net loss for the three months ended June 30, 2024, decreased to $(21.38) million from $(23.99) million in the prior year, while for the six months, it increased to $(50.96) million from $(49.27) million[7] - Research and development expenses decreased by 13% for the three-month period and 16% for the six-month period year-over-year[7] Condensed Consolidated Statements of Comprehensive Loss This statement presents Immunic, Inc.'s net loss and other comprehensive income (loss) components, including foreign currency translation adjustments | (In thousands) | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net loss | $(21,380) | $(23,999) | $(50,964) | $(49,271) | | Foreign currency translation | $(505) | $171 | $23 | $947 | | Total comprehensive loss | $(21,885) | $(23,828) | $(50,941) | $(48,324) | - Total comprehensive loss for the six months ended June 30, 2024, was $(50.94) million, an increase from $(48.32) million in the prior year, primarily influenced by the net loss and foreign currency translation adjustments[9] Condensed Consolidated Statements of Stockholders' Equity This statement tracks changes in Immunic, Inc.'s stockholders' equity, including common shares, additional paid-in capital, and accumulated deficit | (In thousands, except share amounts) | Balance at January 1, 2024 | Balance at June 30, 2024 | | :----------------------------------- | :------------------------- | :----------------------- | | Common Shares | 45,177,730 | 90,079,016 | | Common Stock Amount | $4 | $8 | | Additional Paid-In Capital | $436,060 | $521,639 | | Accumulated Deficit | $(410,892) | $(461,856) | | Total Stockholders' Equity | $28,931 | $63,573 | - Total stockholders' equity increased significantly from $28.9 million at January 1, 2024, to $63.6 million at June 30, 2024, driven by the January 2024 Financing and conversion of tranche rights to equity[11] - Common shares outstanding nearly doubled from 45.18 million to 90.08 million during the first six months of 2024[11] Condensed Consolidated Statements of Cash Flows This statement summarizes Immunic, Inc.'s cash inflows and outflows from operating, investing, and financing activities | (In thousands) | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--------------------------------- | :----------------------------- | :----------------------------- | | Cash flows from operating activities | $(41,000) | $(39,489) |\ | Cash flows from investing activities | $(211) | $9,671 |\ | Cash flows from financing activities | $74,464 | $147 |\ | Net change in cash and cash equivalents | $33,024 | $(29,451) |\ | Cash and cash equivalents, end of period | $79,698 | $77,294 | - Net cash provided by financing activities significantly increased to $74.46 million for the six months ended June 30, 2024, primarily due to the January 2024 Financing, compared to $0.15 million in the prior year[16] - Cash and cash equivalents at the end of the period increased to $79.70 million, up from $46.67 million at the beginning of the period, largely driven by financing activities[16] Notes to Condensed Consolidated Financial Statements This section provides detailed explanations and disclosures supporting the condensed consolidated financial statements 1. Description of Business and Basis of Financial Statements This note outlines Immunic, Inc.'s business, its focus on immunology therapies, and the basis for preparing its financial statements - Immunic, Inc. is a biotechnology company focused on developing oral immunology therapies for chronic inflammatory and autoimmune diseases, with main operations in Germany and headquarters in New York City[18] - The company has an accumulated deficit of approximately $461.9 million as of June 30, 2024, and has never been profitable, with operating losses primarily from R&D and G&A costs[21] - As of June 30, 2024, Immunic had $79.7 million in cash and cash equivalents, but lacks adequate liquidity to fund operations for at least twelve months without raising additional capital, raising substantial doubt about its ability to continue as a going concern[22] 2. Summary of Significant Accounting Policies This note details the key accounting principles and methods used in preparing Immunic, Inc.'s financial statements - The financial statements are prepared in conformity with U.S. GAAP, with significant estimates related to clinical trial expenses and stock-based compensation[25] - The company's reporting currency is USD, with Immunic AG (Germany) using EUR and Immunic Australia Pty Ltd. using AUD as functional currencies; translation gains/losses are recorded in accumulated other comprehensive income (loss)[26][27] - Cash and cash equivalents include highly liquid investments with original maturities of three months or less, held in the U.S., Germany, and Australia, with U.S. funds earning 5.2% interest and German funds earning 3.5%-3.75% as of June 30, 2024[28][29] 3. Balance Sheet Details This note provides disaggregated information for specific balance sheet accounts, including other current assets, prepaid expenses, accounts payable, and accrued expenses Other Current Assets and Prepaid Expenses (in thousands) | Item | June 30, 2024 | December 31, 2023 | | :-------------------------------------- | :------------ | :---------------- | | Prepaid clinical and related costs | $2,221 | $2,314 | | VAT receivable | $806 | $703 | | Australian research and development tax incentive | $696 | $670 | | Research grant | — | $1,104 | | Prepaid insurance | $500 | $198 | | Other | $1,057 | $871 | | Total | $5,280 | $5,860 | Accounts Payable (in thousands) | Item | June 30, 2024 | December 31, 2023 | | :------------------ | :------------ | :---------------- | | Clinical costs | $7,605 | $4,726 | | Legal and audit costs | $13 | $160 | | Other | $276 | $213 | | Total | $7,894 | $5,099 | Accrued Expenses (in thousands) | Item | June 30, 2024 | December 31, 2023 | | :----------------------------- | :------------ | :---------------- | | Accrued clinical and related costs | $12,368 | $16,863 | | Accrued legal and audit costs | $201 | $216 | | Accrued compensation | $996 | $1,460 | | Accrued other | $210 | $125 | | Total | $13,775 | $18,664 | 4. Commitments and Contingencies This note outlines Immunic, Inc.'s contractual obligations, including operating leases and development program commitments - The company leases office and laboratory space in New York City and Germany, with lease terms extending up to November 2028 for the research laboratory[59] Operating Lease Obligation Maturities (in thousands) | Year | Amount | | :--------- | :----- | | 2024 | $346 | | 2025 | $433 | | 2026 | $78 | | 2027 | $82 | | 2028 | $79 | | Thereafter | — | | Total | $1,018 | | Interest | $(63) | | Present value of obligation | $955 | - Contractual obligations for development programs (vidofludimus calcium and IMU-856) total approximately $1.8 million, expected to be paid in 2024 and 2025[62] 5. Fair Value This note describes Immunic, Inc.'s fair value measurements for financial assets and liabilities, including money market funds and tranche rights Fair Value Measurement of Assets (in thousands) | Asset | June 30, 2024 Fair Value | June 30, 2024 Level 1 | December 31, 2023 Fair Value | December 31, 2023 Level 1 | | :----------------- | :----------------------- | :-------------------- | :--------------------------- | :------------------------ | | Money market funds | $57,137 | $57,137 | $34,087 | $34,087 | | Total assets at fair value | $57,137 | $57,137 | $34,087 | $34,087 | - Tranche rights from the January 2024 Financing were initially recorded as a Level 3 liability of $23.6 million, revalued to $28.4 million (an increase of $4.8 million) upon stockholder approval to increase authorized shares, and then reclassified to equity on March 4, 2024[68][69] 6. Common Stock This note details Immunic, Inc.'s common stock activities, including shelf registration, private placement, and shares reserved for future issuance - The company has a 2023 Shelf Registration Statement allowing for the offering of up to $250.0 million in securities, with $412.3 million total S-3 shelf availability as of June 30, 2024, including unsold securities from prior registrations[72] - The January 2024 Financing involved a three-tranche private placement, with the first tranche closing on January 8, 2024, raising $80 million[74][75][76][77] - Stockholders approved an increase in authorized common stock from 130 million to 500 million shares on March 4, 2024, enabling the reclassification of tranche rights from a liability to equity[78][80] Stock Reserved for Future Issuance | Item | Number of Shares | | :----------------------------------------- | :--------------- | | 2021 Employee stock purchase plan | 1,000,011 | | Pre-funded stock warrants | 11,193,564 | | Outstanding stock options | 10,819,558 | | Shares reserved for tranche 2 rights | 46,620,046 | | Maximum shares reserved for tranche 3 rights | 46,620,046 | | Common stock options available for future grant: |\ | 2017 Inducement Equity Incentive Plan | 46,250 |\ | 2019 Omnibus Equity Incentive Plan | 8,630,271 |\ | Total common shares reserved for future issuance | 124,929,746 | 7. Stock-Based Compensation Plans This note describes Immunic, Inc.'s stock-based compensation plans, including ESPP, Omnibus Equity Incentive Plan, and related expenses - Stockholders approved an increase of 1 million shares for the 2021 Employee Stock Purchase Plan (ESPP) on March 4, 2024, bringing the total to 1.2 million shares[84] - The 2019 Omnibus Equity Incentive Plan had its allowable shares increased by 9.1 million on March 4, 2024, and its evergreen provision was eliminated in June 2023[86] - On March 4, 2024, 3,317,596 outstanding stock options with an exercise price above $3.00 per share were repriced to $1.72 per share, resulting in $1.2 million in additional stock compensation expense to be recognized[88] Stock Option Activity (Six Months Ended June 30, 2024) | Item | Options | Weighted-Average Exercise Price | | :------------------------------------ | :--------- | :------------------------------ | | Outstanding as of January 1, 2024 | 6,196,140 | $7.15 | | Granted | 4,810,349 | $1.22 | | Forfeited or expired | (186,931) | $2.55 | | Outstanding as of June 30, 2024 | 10,819,558 | $1.66 | | Options exercisable as of June 30, 2024 | 3,606,762 | $2.14 | Stock-Based Compensation Expense (in thousands) | Category | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Research and development | $842 | $889 | $2,005 | $1,792 | | General and administrative | $1,040 | $909 | $2,627 | $1,985 | | Total | $1,882 | $1,798 | $4,632 | $3,777 | 8. Related Party Transactions This note discloses transactions and agreements with related parties, including executive compensation details - The employment agreement with Executive Chairman Duane Nash was extended to December 31, 2024, with his monthly base salary increased to $32,368 from $30,250[99] Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Management discusses Immunic, Inc.'s financial condition, operational results, liquidity, capital resources, and key strategic developments for the reporting periods Forward-Looking Statements This section highlights forward-looking statements in the report, cautioning investors about inherent risks and uncertainties - The report contains forward-looking statements regarding potential strategic options, financial estimates, capital resources, and product candidate development, which are subject to risks and uncertainties[101][102] - Investors are cautioned not to place undue reliance on these statements, as actual results may differ materially due to various factors, including those detailed in the 'Risk Factors' section[103][104] Overview This section provides an overview of Immunic, Inc.'s biotechnology business, its focus on immunology therapies, and key product candidates - Immunic is a biotechnology company developing oral immunology therapies for chronic inflammatory and autoimmune diseases, with approximately 85 employees as of August 1, 2024[105] - Key product candidates include vidofludimus calcium (IMU-838) in Phase 3 and Phase 2 for multiple sclerosis (MS), IMU-856 for gastrointestinal diseases, and IMU-381 for gastrointestinal diseases in preclinical testing[106] - Positive interim data from the CALLIPER trial (IMU-838 in progressive MS) was announced on October 9, 2023, showing neuroprotective potential, with top-line data expected in April 2025[107][108] Strategy This section outlines Immunic, Inc.'s strategic focus on developing new immunological molecules, executing clinical trials, and exploring collaborations - The company's strategy focuses on developing new molecules for immunological targets, leveraging R&D infrastructure in Germany and Australia for efficient development[115] - Strategic initiatives include executing Phase 3 ENSURE and Phase 2 CALLIPER trials for IMU-838, preparing Phase 2 for IMU-856, continuing preclinical research, and facilitating readiness for potential commercial launch[115] - Immunic is also evaluating potential strategic collaborations to complement R&D capabilities and facilitate commercialization[115] Financial Condition, Liquidity and Going Concern This section discusses Immunic, Inc.'s financial position, liquidity challenges, and the substantial doubt regarding its ability to continue as a going concern - Immunic has an accumulated deficit of approximately $461.9 million as of June 30, 2024, and has never been profitable, with operating losses primarily from R&D and G&A costs[116] - As of June 30, 2024, the company had $79.7 million in cash and cash equivalents but lacks adequate liquidity to fund operations for at least twelve months without raising additional capital, raising substantial doubt about its ability to continue as a going concern[117] - The company expects to incur significant and increasing operating losses as it continues product candidate development and expands personnel[116] Key Status Updates This section provides important updates on Immunic, Inc.'s recent corporate and clinical developments Private Placement of up to $240 Million (the "January 2024 Financing") This update details the three-tranche private placement, including the initial $80 million raised and conditions for subsequent tranches - The January 2024 Financing is a three-tranche private placement, with the first tranche closing on January 8, 2024, raising $80 million[118][120] - The second and third tranches, each for $80 million, are conditional on factors like topline data release for IMU-838, stock price, and trading volume, with potential for cashless settlement in the third tranche[120] - Due to insufficient authorized shares initially, tranche rights were recorded as a $23.6 million liability and reclassified to equity after stockholders approved an increase in authorized shares on March 4, 2024[122] Notice of Allowance for Composition-of-Matter Patent of a Specific Polymorph of Vidofludimus Calcium in the United States This update announces the USPTO's allowance of a patent application for a specific polymorph of vidofludimus calcium, extending protection until 2039 - On March 20, 2024, Immunic received a Notice of Allowance from the USPTO for a patent application covering a specific polymorph of vidofludimus calcium and its production method, extending protection into 2039[124][125] Publication of Extended Data From Phase 2 EMPhASIS Trial of Vidofludimus Calcium in Relapsing-Remitting Multiple Sclerosis in the Peer Reviewed Journal, Neurology® Neuroimmunology & Neuroinflammation This update reports the publication of extended Phase 2 EMPhASIS trial data for vidofludimus calcium in relapsing-remitting MS in a peer-reviewed journal - Data from the Phase 2 EMPhASIS trial of vidofludimus calcium in relapsing-remitting MS patients was published in Neurology® Neuroimmunology & Neuroinflammation on April 25, 2024[125] Appointment of Jason Tardio as Chief Operating Officer and President and Promotion of Werner Gladdines to Chief Development Officer This update announces key leadership appointments, with Jason Tardio as COO and President, and Werner Gladdines promoted to Chief Development Officer - Jason Tardio was appointed Chief Operating Officer and President, effective July 12, 2024, to lead internal efforts for potential launch of vidofludimus calcium and prepare for partnerships[126] - Werner Gladdines was promoted to Chief Development Officer, taking on additional strategic and operational responsibility for clinical operations[126] Appointment of Simona Skerjanec to Board of Directors This update announces the appointment of Simona Skerjanec to the Board of Directors, bringing extensive drug development and commercialization experience - Simona Skerjanec was appointed to the Board of Directors as a Class I director, effective July 22, 2024, bringing extensive experience in drug development and commercialization[127] Components of Results of Operations This section explains the key components influencing Immunic, Inc.'s operational results, including R&D expenses and other income/expense items - Immunic has not generated any revenue from product sales to date and does not expect to in the foreseeable future, relying on successful development and regulatory approval of product candidates[128] - Research and development expenses, totaling approximately $335.1 million since inception through June 30, 2024, are expensed as incurred and are expected to increase due to ongoing trials and pipeline expansion[129][131][133] - Other income (expense) includes interest income, changes in fair value of tranche rights (a non-cash charge), R&D tax incentives, German government grants, and foreign currency transaction gains/losses[136][137][138] Results of Operations This section provides a detailed comparison of Immunic, Inc.'s financial performance for the three and six months ended June 30, 2024, versus 2023 Comparison of the Three Months Ended June 30, 2024 and 2023 This section compares Immunic, Inc.'s financial results for the three months ended June 30, 2024, against the same period in 2023 Three Months Ended June 30, 2024 vs. 2023 (in thousands) | Item | 2024 | 2023 | Change ($) | Change (%) | | :----------------------------- | :------ | :------ | :--------- | :--------- | | Research and development | $18,323 | $21,172 | $(2,849) | (13)% | | General and administrative | $4,491 | $3,849 | $642 | 17% | | Total operating expenses | $22,814 | $25,021 | $(2,207) | (9)% | | Loss from operations | $(22,814)| $(25,021)| $2,207 | (9)% | | Interest income | $998 | $968 | $30 | 3% | | Other income, net | $436 | $54 | $382 | 707% | | Net loss | $(21,380)| $(23,999)| $2,619 | (11)% | - R&D expenses decreased by $2.8 million, primarily due to reduced external development costs for IMU-856 (completion of Phase 1) and deprioritization of the izumerogant program, partially offset by increased costs for vidofludimus calcium[139] - General and administrative expenses increased by $0.6 million, mainly due to higher personnel expenses (including stock compensation and headcount) and increased legal/consultancy costs[140] Comparison of the Six Months Ended June 30, 2024 and 2023 This section compares Immunic, Inc.'s financial results for the six months ended June 30, 2024, against the same period in 2023 Six Months Ended June 30, 2024 vs. 2023 (in thousands) | Item | 2024 | 2023 | Change ($) | Change (%) | | :----------------------------- | :------ | :------ | :--------- | :--------- | | Research and development | $37,059 | $44,135 | $(7,076) | (16)% | | General and administrative | $9,636 | $8,137 | $1,499 | 18% | | Total operating expenses | $46,695 | $52,272 | $(5,577) | (11)% | | Loss from operations | $(46,695)| $(52,272)| $5,577 | (11)% | | Interest income | $2,185 | $1,768 | $417 | 24% | | Change in fair value of tranche rights | $(4,796)| — | $(4,796) | N/A |\ | Other income (expense), net | $(1,658)| $1,233 | $(2,891) | (234)% | | Net loss | $(50,964)| $(49,271)| $(1,693) | 3% | - R&D expenses decreased by $7.1 million, primarily due to deprioritization of the izumerogant program ($3.4 million decrease), completion of IMU-856 Phase 1 trial ($2.9 million decrease), and reduced vidofludimus calcium program costs ($0.9 million decrease)[142] - Other income (expense) decreased by $2.9 million, mainly due to a $1.7 million expense from January 2024 Financing deal costs related to tranche rights and reduced government grants/tax incentives[145] Liquidity and Capital Resources This section analyzes Immunic, Inc.'s ability to meet its financial obligations, its capital resources, and future funding needs - Immunic has an accumulated deficit of $461.9 million as of June 30, 2024, and expects continued operating losses, necessitating additional funding to meet long-term liquidity needs[146][147] - As of June 30, 2024, cash and cash equivalents were $79.7 million, which is insufficient to fund operations for at least twelve months without additional capital, raising substantial doubt about the company's going concern ability[148][162] - The company has a 2023 Shelf Registration Statement with $412.3 million in total S-3 shelf availability as of June 30, 2024, for potential future equity offerings[151] Cash Flows This section details Immunic, Inc.'s cash flows from operating, investing, and financing activities for the six months ended June 30, 2024, and 2023 Cash Flow Summary (in thousands) | Activity | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :------------------- | :----------------------------- | :----------------------------- | | Operating activities | $(41,000) | $(39,489) |\ | Investing activities | $(211) | $9,671 |\ | Financing activities | $74,464 | $147 | - Operating activities used $41.0 million of cash in H1 2024, primarily due to the net loss, partially offset by non-cash charges like change in fair value of tranche rights and stock-based compensation[165] - Financing activities provided $74.4 million in H1 2024, mainly from the January 2024 Financing, a significant increase from $0.15 million in H1 2023[168] Item 3. Quantitative and Qualitative Disclosures About Market Risk This section discusses Immunic, Inc.'s exposure to market risks, specifically interest rate sensitivity and foreign currency exchange risk, and the potential impact of inflation on its financial results - The company holds $79.7 million in cash and cash equivalents for working capital, with minimal exposure to interest rate changes due to the short-term nature of these investments[175] - Immunic has exposure to foreign currency exchange risk, primarily between the U.S. dollar and the euro/Australian dollar, due to R&D operations in Germany and Australia[176] - A hypothetical 10% adverse change in foreign currency exchange rates could decrease net current assets by approximately $0.5 million and impact net loss by about $3.7 million for the six months ended June 30, 2024[178] Item 4. Controls and Procedures This section confirms the effectiveness of Immunic, Inc.'s disclosure controls and procedures as of June 30, 2024, and reports no material changes in internal control over financial reporting during the period - Management, including the CEO and Principal Financial Officer, concluded that disclosure controls and procedures were effective as of June 30, 2024[180] - There were no material changes in internal control over financial reporting during the six months ended June 30, 2024[181] PART II - OTHER INFORMATION This section covers Immunic, Inc.'s legal proceedings, risk factors, equity security sales, and other disclosures, including a comprehensive list of exhibits filed with the report Item 1. Legal Proceedings Immunic, Inc. is not currently involved in any material litigation and is unaware of any pending or threatened litigation that would significantly impact its business, operating results, financial condition, or cash flows - The company is not currently a party to any material litigation and is unaware of any pending or threatened litigation that would materially affect its business, operating results, financial condition, or cash flows[182] - The biotechnology industry is characterized by frequent claims and litigation, including securities, patent, intellectual property, and product liability claims, suggesting potential future involvement in legal proceedings[182] Item 1A. Risk Factors This section directs readers to consider the risk factors detailed in the company's Annual Report on Form 10-K for December 31, 2023, and other information within this report, as these factors could seriously harm Immunic, Inc.'s business, operating results, and financial condition - Readers should carefully consider risk factors from the Annual Report on Form 10-K (December 31, 2023) and this report, as they could materially harm the company's business, operating results, and financial condition[183] - Forward-looking statements in this report involve risks and uncertainties, and actual results may differ materially from anticipated outcomes[183] Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Immunic, Inc. reports no unregistered sales of equity securities or use of proceeds for the quarter ended June 30, 2024 - No unregistered sales of equity securities or use of proceeds occurred during the quarter ended June 30, 2024[184] Item 3. Defaults Upon Senior Securities This item is not applicable to Immunic, Inc. for the reporting period - This item is not applicable[184] Item 4. Mine Safety Disclosures This item is not applicable to Immunic, Inc. for the reporting period - This item is not applicable[184] Item 5. Other Information Immunic, Inc. reports no other information for the quarter, specifically noting that no director or Section 16 officer adopted or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangements - No director or Section 16 officer adopted or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the quarter ended June 30, 2024[184] Item 6. Exhibits This section lists all exhibits filed with the Form 10-Q, including corporate governance documents, equity incentive plans, warrant forms, employment agreements, and certifications - The exhibits include corporate documents like the Amended and Restated Certificate of Incorporation and Bylaws, as well as equity incentive plans (2019 Omnibus Equity Incentive Plan, 2021 Employee Stock Purchase Plan)[185][186] - Key agreements such as the Form of Pre-Funded Warrant and various employment agreements (e.g., with Duane Nash, Dr. Andreas Muehler, Dr. Daniel Vitt) are also listed[186][187][189] - Certifications from the Principal Executive Officer and Principal Financial Officer (pursuant to Sections 302 and 906 of Sarbanes-Oxley Act) are included as exhibits[190]